The last time the Goldwater Institute attempted to railroad the City of Glendale and Phoenix Coyotes’ attempts to sell the team, things ended very badly. Really, the mere threat of Goldwater’s involvement crushed the hopes of that deal. With news of Goldwater stepping in once again, you’d think Glendale reps would be nothing but beaten down, yet Dan Bickley shares this surprising quote.
Glendale city council member Joyce Clark to the Goldwater Institute: “Bring it on, baby.”
That’s totally not a quote that could come back to haunt Clark & Co., right? Perhaps that bit of moxie might display a “unified front” or an increased amount of confidence in the situation, though.
In honor of Clark’s hubris, I plan on baiting Freddie Kruger by taking Ambien during the off-season.
In an effort to keep the NHL in the city of Glendale, the city council approved a 20-year lease with prospective Phoenix Coyotes buyer Greg Jamison. The move is expected to cost the city about $300 million over 20 years.
The council ultimately approved the deal by a 4-2 vote, with mayor Elaine Scruggs being one of the two against the measure.
Jamison’s investment group will receive $15 million annually to run the arena. At least, that’s how this will work if the deal stands.
The taxpayer watchdog Goldwater Institute is expected to challenge the deal and might be able to void the vote. As you might recall, the Goldwater Institute stood in the way of previous attempts to find an owner for the Coyotes.
On top of that, Jamison still has to put together the financing and money needed to complete the purchase.
So this isn’t over for the Phoenix Coyotes and given how many curveballs we’ve already seen over the course of this lengthy saga, anything is possible. Still, this is a step towards Jamison potentially owning the team.
There were already some rumblings that the Goldwater Institute won’t be so quiet in the latest round of Phoenix Coyotes sales pitches, but that seems just about official now. Brahm Resnik reports that the Goldwater Institue intends to attempt to block the Glendale vote for a new Coyotes lease on Friday morning.
Here’s the verbatim Tweet:
BREAKING @GoldwaterInst says it will be in court at 830am Friday to try to block #Glendale vote on #Coyotes lease at 10am.
Goldwater also claims that Glendale “violated an Open Meetings Law by not disclosing the entire lease agreement in a timely fashion,” according to Resnik’s reports.
The last thing that the newest edition of the Coyotes’ hopeful sale needed was the Goldwater Institute blocking the path again, although it’s not fair to cast them in the role of “villains.” It’s a watchdog group designed to help protect taxpayers and it’s likely that even the most ardent Coyotes supporter would admit that it’s a far-from-ideal situation. The latest proposal seemed to be designed to survive Goldwater’s gaze, but if this development is any indication, it obviously didn’t do enough to calm those fears.
We’ll keep an eye out for developments on what could be a tumultuous Friday morning in a story that seemingly never ends.
(H/T to Bruce Arthur.)
The Glendale City Council will soon be voting on a proposal that will see the city fork out $325 million in all to potential Coyotes owner Greg Jamison. Regional watchdog group, the Goldwater Institute, has been involved in the team’s dealings in the past and they’ve got some concerns this time around as well.
Goldwater Institute president and CEO Darcy Olsen sent a letter to the mayor of Glendale and the city council to address their concerns with the potential deal. To sum it up, they don’t want to see the taxpayers in Glendale end up over a barrel thanks to the deal.
Goldwater’s concerns hover around the possibility this deal can bring into effect the “gift clause” that helped kill Matthew Hulsizer’s bid to buy the team. They’re also asking about the cost parking rights, arena use at Jobing.com Arena, as well as the speed all of this is happening.
Goldwater isn’t alone in their worries, but it’s clear the financial issues the City of Glendale have run into recently are wearing on the minds of more than a few locals.
We’ve been down this road before so we know how quickly things can change.
According to a report out of the Phoenix Business Journal, NHL commissioner Gary Bettman will be in Glendale today to announce the league has reached a tentative deal to sell the Phoenix Coyotes to Greg Jamison. As you know by now, Jamison is the former San Jose Sharks CEO and he’s looking to close a deal to keep the team in Arizona.
Mike Sunnucks of the Phoenix Business Journal explains that if this is the case, things are still far from being completed.
It also sets the stage for a city of Glendale vote on payments to the Jamison group to facilitate the sale and help the group absorb some short-term financial losses. The Coyotes lose $20 million to $25 million per season. The city will pay new Coyotes owners to run Jobing.com Arena.
The City of Glendale has a City Council meeting slated for Tuesday, however a vote on the deal is not on the agenda and does not appear likely to be added to the docket. The Coyotes have been in ownership limbo since 2009 and if this deal is approved and gets the OK from the Goldwater Institute (meaning they won’t try to intervene with litigation), the league’s long fight to keep the team in Glendale will have paid off.
Update (10:15 a.m. ET): Kevin Allen of USA Today confirms an announcement will be made in Arizona today.